This week, we revise our LIBOR deadline from 12/31/21 to 3Q20. (Well, technically, that was the FCA…and just for Stg LIBOR.) We review the secondary trading market in October (and hint toward November) and recap the latest on ESG and ratings. Finally, we remind you that we are now offering members a weekly LIBOR Q&A […]
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Demystifying the LSTA’s SOFR Concept Credit Agreement Presentation
What is a “concept credit agreement”? Why is the LSTA developing one? What is that math formula? Find out all you need to know about the draft compounded SOFR in arrears credit agreement. This presentation will done for our members on Tuesday, December 3rd by Jeffrey Nagle, Partner and Cadwalader, Wickersham & Taft and Tess […]
LSTA Newsletter: November 15, 2019
This week, we start off with a SOFR loan spotting (yes, Virginia, there is a SOFR loan!). We move on to another rising loan type: Sustainability linked loans – what they are, how they are measured and how their volumes are changing. We also dip into the markets, checking in on how loan terms and […]
The Great Migration Away From LIBOR
LIBOR, “the world’s most important number”, is likely to cease after 2021. This presents significant—but hopefully surmountable—challenges. We discuss the LIBOR problem, timeline and potential shorter- and longer-term solutions. We know whereof we speak; the LSTA is a member of the overall Alternative References Rates Committee (“ARRC”), the body tasked with replacing U.S. dollar LIBOR. […]
LSTA Newsletter: October 18, 2019
This week, we start by announcing that the LSTA is developing a “SOFR Compounded in Arrears” concept credit agreement. It is one more tool to help members internalize what a SOFR Loan Market might look like. Next, we provide an updated suite of documents on Primary Delayed Compensation. Finally, we offer a brief update on LSTA […]
Blacklined Version of the Concept Credit Agreement
Blacklined against a LIBOR-based investment grade term loan.
LSTA Newsletter: September 20, 2019
This week we explain the big SOFR jump, share Lee Shaiman’s and David Lerner’s Morning Consult op-ed, highlight some LIBOR coverage, and discuss the ESG lending panel at the Refinitiv LPC Loan Conference.
Blackline of the Model Transfer Provisions for RSAs
Blacklined against draft dated July 15, 2019
Draft of the Model Transfer Provisions for RSAs
Current draft dated September 5, 2019. Comments Due by Thursday, October 3rd
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